• 24 June, 2024
News

Binance Futures Launches USDⓈ-M NFP Contracts, Offers 50x Leverage

Binance, a leader in cryptocurrency exchange, has recently unveiled its USDⓈ-M NFP Perpetual Contract, marking a significant step in the world of digital asset trading. Launched on December 27, 2023, at 1:30 p.m. UTC, this innovative contract features the NFPrompt (NFP) as its underlying asset, with settlement in USDT.

The NFPUSDT Perpetual Contract’s introduction coincides with the recent listing of NFP on Binance following its market debut. This strategic move has contributed to the NFP price rally, showcasing a substantial increase in market capitalization and trading volume. Specifically, NFP saw a significant price peak of $1.28 in the previous trading session, though it has experienced a slight downturn to $0.9769, representing a 17% decrease in the past 24 hours.

Furthermore, Binance has implemented a Multi-Assets Mode, enhancing the trading experience using different margin assets, such as BTC, for the NFPUSDT Perpetual Contract. This feature underscores Binance’s commitment to providing its users with flexible and diverse trading strategies. Additionally, Binance has introduced a unique offer for USD-margined futures liquidity providers. A maker fee rebate of 0.005% will be available for about two weeks from the launch, highlighting Binance’s efforts to encourage participation and liquidity in these new contracts.

Moreover, Binance has adapted its platform to accommodate market risk conditions. The exchange has reserved the right to adjust specifications such as tick size, funding fees, leverage limits, and margin requirements. These adjustments indicate Binance‘s proactive approach to maintaining a stable and secure trading environment.

The NFPUSDT Perpetual Contract also has other notable features, such as a capped funding rate of +2.00%/-2.00%, settlement frequency for funding fees every four hours, and 24×7 trading hours. These attributes ensure that traders have constant access and control over their activities. Binance’s integration of NFP into Binance Convert is another noteworthy development. This allows users to trade NFP against BTC, USDT, and other supported tokens with zero fees, further enhancing the trading experience on the platform.

The launch of the NFPUSDT Perpetual Contract by Binance Futures is more than just an addition to its product line; it represents a significant advancement in cryptocurrency trading. By offering high leverage, flexible trading options, and enhanced user experience, Binance solidifies its position as a leading and innovative player in the cryptocurrency exchange market.

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